Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

GBP/EUR Febuary Currency Update

GBP/EUR Febuary Currency Update

Old Feb 5th 2010, 2:21 am
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default GBP/EUR February Currency Update

Sterling weathered the Thaw! (Even without Grit)

While the Euro zone was troubled with a Greek banking crisis & worse than expected French and German production output figures, Sterling managed to plough ahead even though the first 2 weeks of January saw the country lamed by Arctic whether conditions.

Perhaps it gave the consumers more time to spend at the ‘Sales’ and turn their ‘Thermostats’ up - happy days for Oil prices and Utilities stocks! Even Cadburys was in melt down as Kraft launched the aggressive £9 Billion bid to secure the be-leaguered shareholders with their dividends, even though bolstering Sterling price.

The Pound managed to claw back to a 6 Month High against the Euro to a heady 1.16! The market was asking whether it could keep up the momentum, it failed this month to secure it position in a new trading range and dropped back to below 1.15 at the end of the month.

All European equity markets suffered from Obama’s attempts to add aggressive taxes/ controls to the US banking sector, particularly the Banks. The FTSE sell off is probably effecting sterling upward momentum.

Current Central Bank Rates:

European Central Bank: 1.00%
UK (Bank of England): 0.50%

GBP/EUR Highs & Lows of January:

High: 1.1625
Low: 1.1076

A movement of: 4.96%

Difference this would make on £200k

High: €232,500
Low: € 221,520

A difference of €10,980


All of the information above can be explained clearly by your personalised dealer should you open a trading facility with HIFX. To discuss your requirements in more detail and for a free currency consultation please contact HiFX plc on 01753 859 159 or email [email protected].

Last edited by Windsor2; Feb 5th 2010 at 2:43 am.
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.